Shares in Richemont rise on speculation.
Rumours have emerged that luxury goods group Richemont may be in the market to buy online luxury retailer Net-a-Porter.
Richemont, which owns brands including Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC, Panerai and Montblanc, already has a 29 percent stake on Net-a-Porter.
Shares in Richemont rose 0.4 percent against a falling market as the speculation arose.
Helvea analyst Alex Migliorini told the Financial Times: “It is hard to determine whether or not this will go ahead. If Richemont bought the company outright top brands that use the website may pull out and that obviously would mean a loss in profits for both Richemont and Net-a-Porter.”